Scotiabank
Scotia Momentum Visa Infinite Card
Welcome Bonus
Earn 10% cash back on first $2,000 in purchases
cashback groceries cashback recurring-bills gas premium
Annual Fee
$120
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Quick Stats
Annual Fee
$120
Purchase APR
20.99%
FX Fee
2.5%
Card Type
visa
Rewards & Earning Rates
| Spending Category | Earn Rate |
|---|---|
| Groceries and Recurring Bill Payments | 4% cash back |
| Gas and Daily Transit | 2% cash back |
| Drugstore Purchases | 2% cash back |
| All other purchases (after hitting caps) | 1% cash back |
Welcome Bonus Details
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases - up to $200 value), plus first-year annual fee waived ($120 value) and additional card fees waived ($50 value per card)
Fees & Interest Rates
| Annual Fee | $120.00 |
| Additional Card Fee | $50.00 |
| Purchase Interest Rate | 20.99% |
| Cash Advance Interest Rate | 22.99% |
| Foreign Transaction Fee | 2.5% |
Pros & Cons
Pros
- Industry-leading 4% cashback on groceries and recurring bills
- 2% on gas, transit, and drugstore purchases
- High annual caps ($25,000 per category)
- First-year annual fee waived ($120 value)
- Comprehensive travel insurance including mobile device insurance
- Scotia SelectPay for flexible payment options
- Multiple award-winning card (9 awards in 2023)
Cons
- $120 annual fee after first year
- Annual spending caps limit maximum cashback potential
- 2.5% foreign transaction fee limits international use
- Requires Scotiabank account for optimal redemption
- Higher interest rates if carrying balance
Eligibility Requirements
Requires $60,000 personal or $100,000 household income; good to excellent credit
Recommended Credit Score: 680+
Categories
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